Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand Performance of Services Index: The New Zealand Performance of Services Index for October was reported at 55.4. Forex traders can compare this to the New Zealand Performance of Services Index for September which was reported at 54.2.
- New Zealand PPI Input/Output: The New Zealand PPI Input for the third-quarter increased by 1.4% quarterly and the New Zealand PPI Output increased by 1.5% quarterly. Forex traders can compare this to the New Zealand PPI Input for the second-quarter which increased by 1.0% quarterly and to the New Zealand PPI Output which increased by 0.9% quarterly.
Here is the key factor to keep in mind today for US Dollar trades:
- US NAHB Housing Market Index: The US NAHB Housing Market Index for November is predicted at 67. Forex traders can compare this to the US NAHB Housing Market Index for October which was reported at 68.
Should price action for the NZDUSD remain inside the or breakdown below the 0.6815 to 0.6880 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.6840
- Take Profit Zone: 0.6500 – 0.6545
- Stop Loss Level: 0.6920
Should price action for the NZDUSD breakout above 0.6880 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.6900
- Take Profit Zone: 0.7000 – 0.7055
- Stop Loss Level: 0.6840
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
